Michael Mcgovern Sells 12,000 Shares of Cactus (NYSE:WHD) Stock

Cactus, Inc. (NYSE:WHD) Director Michael Mcgovern sold 12,000 shares of Cactus stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the sale, the director owned 15,990 shares in the company, valued at approximately $904,554.30. This represents a 42.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cactus Price Performance

Shares of Cactus stock opened at $56.87 on Friday. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $51.56 and its two-hundred day moving average price is $49.84. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $59.25. The stock has a market cap of $4.56 billion, a PE ratio of 53.65, a price-to-earnings-growth ratio of 2.21 and a beta of 1.37.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The firm had revenue of $388.35 million for the quarter, compared to analysts’ expectations of $380.42 million. During the same period in the previous year, the business earned $0.73 earnings per share. Cactus’s revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cactus, Inc. will post 2.84 EPS for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be given a $0.14 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 1.0%. Cactus’s payout ratio is 52.83%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research report on Friday, March 27th. Wall Street Zen cut shares of Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Citigroup boosted their price target on shares of Cactus from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Piper Sandler started coverage on shares of Cactus in a research report on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 price target on the stock. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Hedge Funds Weigh In On Cactus

Several institutional investors and hedge funds have recently bought and sold shares of WHD. Advisors Asset Management Inc. grew its stake in Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after acquiring an additional 543 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Cactus by 101.1% in the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after buying an additional 5,745 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cactus by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after buying an additional 1,733 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Cactus in the 1st quarter valued at approximately $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Cactus by 26.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock valued at $10,400,000 after buying an additional 46,835 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Company Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.